StockNews.com Upgrades RE/MAX (NYSE:RMAX) to “Buy”

StockNews.com upgraded shares of RE/MAX (NYSE:RMAX) from a hold rating to a buy rating in a research report report published on Tuesday.

Separately, Stephens boosted their target price on RE/MAX from $9.00 to $10.50 and gave the stock an equal weight rating in a research report on Monday, August 12th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of Hold and an average target price of $11.90.

RE/MAX Price Performance

Shares of NYSE:RMAX opened at $10.26 on Tuesday. The company has a market cap of $187.51 million, a price-to-earnings ratio of -2.60 and a beta of 1.37. RE/MAX has a one year low of $6.94 and a one year high of $17.52. The firm has a fifty day moving average price of $8.78 and a two-hundred day moving average price of $8.59.

Insider Activity at RE/MAX

In other news, major shareholder Adam K. Peterson purchased 46,629 shares of the company’s stock in a transaction on Tuesday, June 18th. The stock was purchased at an average price of $8.30 per share, with a total value of $387,020.70. Following the completion of the purchase, the insider now directly owns 3,084,472 shares in the company, valued at approximately $25,601,117.60. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other RE/MAX news, major shareholder Adam K. Peterson purchased 46,629 shares of RE/MAX stock in a transaction on Tuesday, June 18th. The shares were acquired at an average cost of $8.30 per share, for a total transaction of $387,020.70. Following the completion of the transaction, the insider now directly owns 3,084,472 shares of the company’s stock, valued at $25,601,117.60. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Adam K. Peterson acquired 23,500 shares of the stock in a transaction dated Friday, June 28th. The stock was acquired at an average price of $8.27 per share, with a total value of $194,345.00. Following the completion of the acquisition, the insider now owns 3,124,152 shares in the company, valued at approximately $25,836,737.04. The disclosure for this purchase can be found here. Insiders have bought a total of 100,309 shares of company stock valued at $824,351 over the last 90 days. 5.99% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Magnolia Group LLC increased its stake in shares of RE/MAX by 13.7% during the fourth quarter. Magnolia Group LLC now owns 2,983,843 shares of the financial services provider’s stock valued at $39,775,000 after buying an additional 358,736 shares during the period. Hotchkis & Wiley Capital Management LLC grew its holdings in shares of RE/MAX by 46.2% during the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 1,057,780 shares of the financial services provider’s stock worth $14,100,000 after acquiring an additional 334,290 shares during the period. Assenagon Asset Management S.A. bought a new position in shares of RE/MAX in the 2nd quarter worth approximately $1,778,000. Russell Investments Group Ltd. purchased a new position in shares of RE/MAX in the 4th quarter valued at approximately $2,583,000. Finally, Jacobs Levy Equity Management Inc. boosted its position in shares of RE/MAX by 107.3% during the first quarter. Jacobs Levy Equity Management Inc. now owns 291,855 shares of the financial services provider’s stock valued at $2,560,000 after purchasing an additional 151,036 shares in the last quarter. 93.17% of the stock is owned by institutional investors.

RE/MAX Company Profile

RE/MAX Holdings, Inc operates as a franchisor of real estate brokerage services in the United States, Canada, and internationally. It operates through Real Estate, Mortgage, and Marketing Funds segments. The company offers real estate brokerage franchising services under the RE/MAX brand; mortgage brokerage services to real estate brokers, real estate professionals, mortgage professionals, and other investors under the Motto Mortgage brand; and mortgage loan processing software and services under the wemlo brand.